888 Reports Record Breaking Revenues

Just a short while ago the future of 888 Holdings looked grim. Recently, 888 publicly released its 2011 financial results and the company has certainly managed to turn things around.

In 2011, 888 Holdings benefited from 330,000 new casino and poker players which drove the year-to-year revenues to $331.1 million-a 26% increase. 888’s business to business (B2B) subsidiary, Dragonfish, brought in a 16% increase totaling $46.9 million. The business to consumer (B2C) revenues totaled $284.2 million which was a 28% increase. 888 Holdings is continuing their good fortune into 2012. Daily revenues are on average 2% higher than the last three months of 2011 and customer recruitment is up about 15% compared to the last quarter.

The revenue news comes at the same time as the announcement that Brian Mattingley is the official new Chief Executive Officer at 888 after spending 2011 in an interim position. Mattingley is proud of the work he has done so far to push 888 to new heights and said: “The promising start of 2012 demonstrates healthy growth over and above the strong fourth quarter of 2011 and underpins our strategy and expectations for 2012.”

Mattingley has even bigger plans for the future of 888 and his eye is on the American market. Just a few years ago, in 2006, 888 pulled its online gambling from the US when a law was passed implying that online gambling was illegal.

Now, 888 has its foot in the door in Nevada with Caesars Interactive Entertainment and is close to signing a B2C deal with a “significant” US casino since the US is close to changing its laws. However, 888’s revenues in the US market will depend heavily on whether legislation is passed by individual states or the Federal government.

888 Holdings is one company to keep your eye on in the future. As their expansion grows even more, players around the world will reap the benefits.